MPC Energy Solutions (MPCES) Q2 2025 earnings summary

Executive summary

• On track to meet 2025 objectives, including maximizing shareholder value and returning cash to shareholders by year-end, supported by cost reductions and project divestments.

• Construction of the 66 MW San Patricio plant in Guatemala completed; grid connection and testing expected in Q3 2025, pending permits.

• Agreement to sell Planeta Rica (Colombia) signed in July 2025, with closing expected late Q3 or early Q4 and potential earn-out payments.

• Four projects delivered energy in H1 2025, with ongoing focus on increasing free cash for shareholder distributions.

Financial highlights

• Group EBITDA increased 36% year-over-year to $2.25 million in H1 2025; consolidated EBITDA margin improved to 73% from 64% year-over-year.

• Revenue remained relatively flat or slightly decreased to $5.4–$5.43 million, but like-for-like revenue rose 14% to $6.1 million.

• Net loss narrowed to $1.4 million (EPS: -$0.06) from $4.7 million (EPS: -$0.21) year-over-year.

• Consolidated cash position at $11.3 million, with free cash at $2.2 million as of end June 2025.

• Overhead costs reduced by 2% year-over-year, with further reductions targeted for Q3 and Q4.

Outlook and guidance

• Year-end 2025 guidance unchanged despite permit delays in Guatemala; energy output forecast at 140–145 GWh, revenue at $12.0–$13.0 million, and project EBITDA at $9.0–$9.5 million.

• San Patricio expected to generate over $8 million in annual revenue with EBITDA margins above 80% once operational.

• Free cash position projected to increase significantly in coming weeks, driven by project divestments and cash back from operations.

• 2026 outlook: all three core plants fully operational, output 220 GWh, revenue $16.5 million, group EBITDA near $10 million.

• Plan to start shareholder distributions before year-end 2025, with amount to be determined based on final cash position.